888 signs deal with US firm

Online gaming group 888 Holdings has signed an agreement with US firm Caesars Interactive Entertainment (CIE), in the company's first US online betting deal.

Under the agreement, Dragonfish, 888's independent business to business arm, will power a selection of CIE's established and recognised poker brands.

The partnership comes ahead of regulatory change expected in US gambling laws, which would permit specific kinds of online gambling.

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Chief Executive Officer Mitch Garber said: "888 has been successfully driving the World Series of Poker brand in the UK for the past three years, and with current momentum toward either a Federal or State by State regulatory environment, 888 is uniquely positioned to support either outcome, without delay."

888 added that believes it has a strong platform to sign with further potential US partners.

According to Peel Hunt analyst Nick Batram, "not only has 888 put itself in the game should the US open, but it also vindicates its B2B arm which is already a supplier to Caesars. Added to good trading momentum is now positive strategic direction. 888 is now very much a business on the front foot."

The share price rose 11.07% to 52.5p by 15:26.

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